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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
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